Analisis Faktor yang Mempengaruhi Kebijakan Hutang Emiten Pertanian di Bursa Efek Indonesia

Abstract

<p><em>In financial management perspective, corporate goal is to maximize shareholder or corporate value.<strong> </strong>The purpose of this study was to analyze the effect of institutional ownership (INST), asset structure (FAR), profitability (ROA), and corporate growth (GROWTH) on debt policy. This study used linear and multiple regression analysis. Significant test results of individual parameters (t statistical test) showed that significant value of INST variable 0.058 < 0.1 (α) and -0.632 (β), FAR 0.097 < 0.1 (α) and 1.019 (β), ROA 0.043 < 0.1 (α) and -1.198 (β), and GROWTH 0.064 < 0.1 (α) and 0.972 (β). The results showed that INST and ROA significantly and negatively affect debt policies, while FAR and GROWTH were significantly and positively affect on debt policies. Whereas, test result of simultaneous</em><em> </em><em>(F statistical test) showed that significant value was 0.010 < 0.1 (α) and the value of F calculated was 4.184 > 2.184 F table. These results indicated that institutional ownership, asset structure, profitability, and corporate growth had a significant effect on debt policy simultaneously.</em></p><em>Keywords : institutional ownership, structure of assets, profitability, corporate growth</em>

Faktor-faktor yang Mempengaruhi Profitabilitas Bank Syariah Indonesia dan Malaysia

“…Tingkat keyakinan Uji ini sebesar 95% sedangkan (α) 5% tingkat kesalahan. Ketentuan degree of freedom (df1) = k -1, df2 = nk (Ramadhany et al, 2016). Adapun dasar pengambilan keputusannya yakni: Apabila f-hitung < F-tabel : H0 diterima sedangkan H1 ditolak Apabila f-hitung > F-tabel : H0 ditolak sedangkan H1 diterima 3) Uji Koefisien Determinasi (R2)…”

Pengaruh Faktor Mikroekonomi dan Makroekonomi Terhadap Kebijakan Hutang Perusahaan

“…Penelitian Nyamita et al (2014); Sanusi dan Nazar (2014); dan menunjukkan bahwa pertumbuhan perusahaan memiliki pengaruh negatif terhadap kebijakan hutang. Namun penelitian Cortez dan Susanto (2012); Memon et al (2015); Ramadhany et al (2015) dan Firmansyah et al (2016) menunjukkan bahwa pertumbuhan perusahaan berpengaruh positif terhadap kebijakan hutang.…”

“…Hasil penelitian ini mendukung penelitian yang dilakukan oleh Nyamita et al (2014), Sanusi dan Nazar (2014), dan Ramadhany et al (2015). Semakin tinggi pendapatan yang mampu dihasilkan maka semakin besar laba perusahaan, sehingga perusahaan akan lebih mengandalkan laba internal (Sanusi dan Nazar, 2014).…”